NBC News reports:
President Joe Biden said Monday that Americans should “rest assured” after his administration acted to ease uncertainties about the banking system in the wake of the collapse of Silicon Valley Bank last week, the second-largest bank failure in U.S. history.
The president spoke about the actions taken by his administration to give Americans confidence that the banking system is safe. “Thanks to the quick action of my administration over the past few days, Americans can have confidence that the banking system is safe,” Biden said. “Your deposits will be there when you need them.”
Biden called for a “full accounting” of what led to the shutdown of SVB and “why those responsible can be held accountable.” “In my administration, no one is above the law. And finally, I must reduce the risk of this happening again,” the president said.
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NEW: President Biden says “the banking system is safe” after the Silicon Valley Bank collapse. https://t.co/MI0ZSlKEE0
— NBC News (@NBCNews) March 13, 2023
Breaking news: President Biden sought to assure the nation Monday that “the banking system is safe” following the collapse of Silicon Valley Bank last week. Speaking from the White House, Biden said, “your deposits will be there when you need them.” https://t.co/uddKLJKiN8
— The Washington Post (@washingtonpost) March 13, 2023
“Americans can rest assured that the banking system is safe,” President Biden says following the collapse of Silicon Valley Bank.
“Your deposits will be there when you need them.” pic.twitter.com/9eHYwMOoJt
— CBS News (@CBSNews) March 13, 2023